Hedge Fund regulations to attract FDI


Kathmandu, Feb. 7: The Government has introduced the 'Hedge Fund regulations, 2075 B.S. in order to attract foreign direct investment in the hydropower sector.
The Fund is aimed at bringing in FDI in convertible currency. The regulations were issued by the Council of Ministers meeting on February 4, according to Minister for Communications and Information Technology Gokul Prasad Banskota.
Speaking at a regular press meet held today to share the cabinet decisions, government spokesperson Banskota said the government granted endorsement for the use of forest area for construction of the 220 KV Chilime-Trishuli transmission line. Similar permission was granted to the Mahakali irrigation project, 14.3 MW Upper Mailung hydel project, 10 MW Kamarigad hydel project, Tamghar Gorusinghe 132 KV substation and to the BS cement industries to extract limestone by using the forest.
The cabinet meeting also approved the national strategy for data development, herbs development grant procedures, 2075, national forest polic, 2075, NGO federation Nepal statute, 2074 and the procedures to provide forest land for resettlement and relocation of the earthquake survivors, 2075 B.S.
According to Minister Banskota, the government has approved the 'privat house re-construction grant distribution (second amendment) procedures, 2075, the Madan Bhandari Science and Technology University Infrastructure Development Committee (formation) order, 2075 and the formation order relating to survey of land in the name of the Korala Customs Office in Mustang district, 2075. Also, the government consented to tabling of the bill designed to provide for federal financial procedures and financial accountability in the federal parliament.
Meanwhile, the government has appointed Madhusudan Adhikari as the Executive Director of the Alternative Energy Promotion Centre. Likewise, Jiulal Chaudhary has been appointed chairperson of the Board of Directors of the Nepal Water Supply Corporation, while Sangita Bhattarai Regmi and Ram Bahadur Thapa members. Likewise, the cabinet gave permission to the National Sports Council to approve its quota and design of organisational structure. It was also decided upon to provide Rs 500,000 in assistance to observe the birth anniversary of martyr Gangalal Shrestha and provide financial aid for the treatment of Pannalal Yadav, who was injured in the Madhes movement.
Likewise, the meeting decided to provide 75 percent of compensation amount to those whose all lands have been occupied by the East-West railway, and 66 percent to those who have lost some of the lands. Those who houses, huts and walls have been destroyed for the project will also receive compensation amount. RSS

Related News

Isolate Pakistan, Sushma tells U.N.

UNITED NATIONS, Sept. 26 : India took its campaign to diplomatically isolate Pakistan to the United Nations on Monday, with External Affairs Minister Sushma Swaraj asking the world community to hold countries that “nurture, peddle and export” terrorism to account. A unified global strategy can defeat terrorism, “and if any nation…

With LoC turning porous, a strike when the iron was hot

NEW DELHI, Sept. 30 : The Union government had kept the Army strike across the Line of Control under the wraps, but had put the forces guarding the border on maximum alert two days ago, said a senior Home Ministry official. The official said the Pakistani Army had violated the…

We are frustrated with Pak., says Hasina

NEW DELHI, Oct. 14: Bangladesh feels “frustrated” with Pakistan over its export of terror, butDhaka’s reasons for pulling out of the SAARC summit in Islamabad were “different from India’s,” says Prime Minister Sheikh Hasina, attempting to draw a distinction between supporting India on terrorism after the Uri attacks and supporting the subsequent…

Modi takes on Pakistan at BRICS, terms it 'mother ship of terror'

BENAULIM, GOA, Oct. 16: Taking on Pakistan at the BRICS summit, India on Sunday said terrorism is a “direct threat” to economic prosperity and growth. Speaking at the BRICS leaders' meeting, Prime Minister Narendra Modi sought action against terrorism and called for an early adoption of CCIT (Comprehensive Convention on International…

BRICS meet declaration pledges to fight terror

BENAULIM (GOA), Oct. 17: The 8th BRICS summit ended here on Sunday with the adoption of the Goa Declaration which pledged opposition to terrorism, even as India failed to get a consensus on references to “cross-border terror” and Pakistan-based terror groups in the final statement. However, in a strongly worded statement,…

President Mukherjee's visit will create new basis in Nepal-India ties: Minister Mahat http://bit.ly/2evTEVm

KATHMANDU, Nov. 1:- Minister for Foreign Affairs Dr Prakash Sharan Mahat has expressed the belief that the three-day state visit of Indian President Pranab Mukherjee to Nepal beginning tomorrow will create a new basis in the relations between Nepal and India.  The Indian President is visiting Nepal at the invitation…


Find Us on Facebook

From Social

Tokyo (Japan), Sept. 13: A new leadership assumed responsibilities at the Non Resident Nepalese Association (NRNA), Japan on Sunday. The new office bearers took oath of office and secrecy after a long fought battle resulting from dissatisfaction from those who…

Lama led officials assume responsibility in NRNA Japan